Michigan Laws 500.6015 – Documents to be filed after plan approval
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After the eligible members have approved a plan of reorganization, the converted company shall file all of the following documents with the commissioner:
(a) The minutes of the members’ meeting at which the plan of reorganization was voted upon.
Terms Used In Michigan Laws 500.6015
- Commissioner: means the director. See Michigan Laws 500.102
- Converted company: means a Michigan domiciled stock insurance company that results from the reorganization of a mutual company under this chapter. See Michigan Laws 500.6001
- Intermediate holding company: means a business corporation subsidiary of a mutual holding company domiciled in this state, any other state, or the District of Columbia that is authorized to issue 1 or more classes of capital stock, the corporate purposes of which include holding directly or indirectly the voting stock of a converted company. See Michigan Laws 500.6001
- plan: means a plan adopted pursuant to this chapter by the board of directors of a mutual company for the reorganization of the mutual company simultaneously into both a mutual holding company and a converted company existing as a direct or indirect stock subsidiary of the mutual holding company. See Michigan Laws 500.6001
(b) The articles and bylaws of the mutual holding company and each intermediate holding company, if any, and the revised articles of incorporation and bylaws of the converted company.